Venice residence on Krestovsky Island shows record sales

OJSC Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group) has completed preliminary construction works at Venice elite residence project (34 Deputatskaya Street, Krestovskiy Island). Now works on foundation and pile wall installation are underway. The project is planned to be completed in 2013.

Pre-sales for the Venice residence project started already in March 2010 with the price range from RUB 150 thousand to RUB 500 thousand per square meter. Despite the average price of RUB 301 thousand per square meter, more than 20% of apartments have already been sold. This clearly makes Venice a sales leader among new elite projects at the early stage of construction in the centre of St. Petersburg.

Usually,  in elite real estate projects apartments with the best views are in higher demand then others. However, in case of the Venice project all kinds apartments (with panoramic views of the Srednyaya Nevka and Elagin Island and those, overlooking Esperov and Vakulenchuk Streets) are equally popular due to its several features: perfect location, architecture of the Renaissance and modern engineering solutions. 

The Venice residence will be designed and constructed in Venetian palazzo style, combining architecture of the Renaissance with modern technologies of the 21st century. It is very much appreciated by those who value luxury and comfort.

Note to Editors:
OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow, Yekaterinburg and Ukraine.
In 2009, the sales revenues of LSR Group were RUR 51,024 million (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS. 

Construction Corporation  Renaissance of St. Petersburg (a subsidiary of LSR Group) is a leading construction company for building elite housing in St. Petersburg. Founded in 1994, the corporation ranks among the largest building companies in Russia. With over 16 years of experience Construction corporation Renaissance of St. Petersburg has successfully implemented more than 40 projects in the most prestigious, complex, and important parts of the historical city centre, having worked on 73 houses.  With solid knowledge, decades of experience, and naturally, the love invested in by our personnel, many projects have been largely supported by the public. All the buildings constructed by the Corporation perfectly fit into the architectural style of St. Petersburg and harmonically combine elegance and comfort. This has placed them as being truly amongst the elite real estate of St. Petersburg.

For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72
E-mail: press@lsrgroup.ru
www.lsrgroup.ru